Global Update: It Pays to Live on Fifth Avenue

News from luxury home markets around the world

The Wall Street Journal examined the median sales price for luxury homes listed on streets and avenues numbered between First and Tenth, and found that it pays to live on Fifth. [The Wall Street Journal]

The Real Deal crunched the numbers of Manhattan luxury condo purchases between July 2014 and June 2015 and found that 40% of buyers took out mortgages, casting doubts on the anecdotal evidence that that specific sector of real estate is a “all-cash” dominated market. [The Real Deal]

Dallas-based private equity fund Lone Star Funds has acquired London developer Quintain for $1.1 billion. Quintain currently plans to build about 5,000 homes in London over the next decade. [Bloomberg]

Chinese investors spent more than $354 million in Dubai’s real estate market last year, representing a 300% increase in investment volume over the previous year. [Trade Arabia]

AUSTRALIA

An award-winning Whitsunday estate, known as the “best beach house in Australia” and featuring 385 meters of beachfront, has hit the market. The property was sold for A$4 million in 2006 and industry experts expect that it could fetch as much as A$10 million at auction. [news.com.au]